Galaxy Digital (NASDAQ:GLXY) Shares Gap Down – What’s Next?

Galaxy Digital Inc. (NASDAQ:GLXY)’s share price gapped down prior to trading on Friday . The stock had previously closed at $27.24, but opened at $25.13. Galaxy Digital shares last traded at $27.40, with a volume of 3,810,209 shares traded.

Analysts Set New Price Targets

GLXY has been the subject of several recent analyst reports. Benchmark boosted their target price on Galaxy Digital from $40.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Piper Sandler boosted their price objective on Galaxy Digital from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Wall Street Zen raised Galaxy Digital from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Canaccord Genuity Group lifted their target price on Galaxy Digital from $34.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Rosenblatt Securities upped their price target on shares of Galaxy Digital from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.33.

Galaxy Digital Stock Up 1.9%

The stock has a 50 day moving average of $34.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.34 and a current ratio of 1.35. The firm has a market capitalization of $10.44 billion and a P/E ratio of 23.13.

Insider Buying and Selling

In related news, Director Medina Rhonda Adams sold 33,333 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $29.83, for a total transaction of $994,323.39. Following the completion of the transaction, the director owned 112,053 shares in the company, valued at $3,342,540.99. The trade was a 22.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Douglas R. Deason bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $29.59 per share, with a total value of $295,900.00. Following the transaction, the director directly owned 10,000 shares of the company’s stock, valued at $295,900. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 3,783,333 shares of company stock worth $135,994,323 over the last ninety days.

Institutional Trading of Galaxy Digital

Institutional investors have recently made changes to their positions in the business. Banque Transatlantique SA acquired a new position in Galaxy Digital during the 3rd quarter valued at about $448,000. Chesapeake Capital Corp IL purchased a new stake in shares of Galaxy Digital during the third quarter worth about $281,000. Landscape Capital Management L.L.C. acquired a new position in shares of Galaxy Digital during the third quarter valued at about $243,000. Quadrature Capital Ltd purchased a new position in shares of Galaxy Digital in the 3rd quarter valued at approximately $8,042,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Galaxy Digital in the 3rd quarter worth approximately $3,120,000.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.